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Production costs increased by 3.3% in January

According to the Federal Statistical Office, the index of production costs for industrial products was 3.3% higher in January 2008 than in January 2007. In comparison with December 2007, this index increased by 0.8%. The most driving force behind this increase were energy prices which increased by 5.9%. Without taking into account the energy price rises, production costs increased by 2.5%.

The prices for mineral oil products increased by 18.7% in January 2008 as compared to January last year, but fell by 1.0% compared to December 2007. Electricity was 9.1% more expensive in January this year than in January last year. Natural gas prices were 2.9% lower in January than in January 2007, but 4.7% higher than in December 2007.

Prices for intermediate inputs increased by 2.6% as compared to January 2007. Consumer goods were 4.3% more expensive. These increases were in particular driven by prices hikes for dairy products as well as vegetal and animal fats and oils.
Mechanical engineering products were by 2.1% more expensive in January 2008 than in the same month last year and +0.5% than in December 2007.

Prices for the following products increased particularly significantly in January as compared to December 2007: precious metals and semi-finished products thereof (+10.1%), hot-rolled steel (+9.1%) and secondary raw materials (+6.1%). GERMAN